Posted on 10/11/2010 1:42:26 PM PDT by Razzz42
...Incidentally, those of you interested in watching the moves in food prices should know that corn hit its expanded limit to the upside in overnight trade before setting back some. It reached $5.73 bushel and is not far from putting a handle of “6” on itself. Soybeans are nearing $12 with wheat above $7.00.
Once again cotton hit limit up as its price continues getting ridiculously high yet there appears to be no end in sight to the buyers. Analysts are blaming it on China which is buying up all the cotton it can get its hand on and which probably scarfed up the stuff India was making available for export. I guess we are all going to have to switch soon to polyester underwear. Yuk! Forget the cotton/ploy blends – maybe the tag on the back of the shirt will be cotton but that will probably be it! Maybe the alchemists have turned cotton into gold. At least it must seem like that for US growers of the fiber!
Crude oil gave up its gains as the Dollar came off its lows and worked a bit higher. It is continuing to struggle with the $83 level and until it clears it by a wide enough margin or holds above it for at least two-three consecutive sessions, it appears more range bound than anything. As is the case with gold, crude will probably require a Dollar move lower 77 to catapult it convincingly past $83...
(Excerpt) Read more at jsmineset.com ...
Seniors are gonna love no more COLAs. Keep watching TV because those who watch support the regime.
Commodities keep going up but Obama and your TV heroes including Fox keep telling you - no inflation. Go luck with that.
Housing, food and fuel are not included in figuring COLA. What else is more important? (More like, how else can retirees be jerked around. Wait until inflation due money printing takes effect, the hidden tax.)
Look fruitcake......I talked to my 72 year old mom today, the first words out of her mouth were "Second year in a row for no SS increase, but the federal workers all received pay raises".
She doesn't have internet and doesn't listen to the radio because of a huge PBS antenna close to her house. Guess how she gets her news.......and she hasn't voted dem in her life.
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